Element Capital Management LLC Acquires New Position in Dover Corporation $DOV

Key Points

• Element Capital Management LLC has acquired 14,964 shares of Dover Corporation valued at approximately $2.63 million during the first quarter.
• Analysts have raised their target prices for Dover, giving the stock an average rating of "Moderate Buy" with a target price of around $213.92.
• Dover recently declared a quarterly dividend of $0.52 per share, reflecting an annualized dividend yield of 1.2% and a payout ratio of 12.42%.

Element Capital Management LLC acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,964 shares of the industrial products company's stock, valued at approximately $2,629,000.

Other institutional investors also recently bought and sold shares of the company. Ecofi Investissements SA grew its holdings in Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after buying an additional 50 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after acquiring an additional 67 shares during the last quarter. Lido Advisors LLC grew its holdings in Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after purchasing an additional 69 shares during the period. Colonial Trust Co SC increased its position in Dover by 11.1% during the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after purchasing an additional 72 shares during the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after purchasing an additional 80 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research analyst reports. Barclays upped their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho boosted their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Citigroup reissued a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Down 0.6%

Shares of Dover stock traded down $1.1350 during trading hours on Thursday, hitting $177.6050. 256,675 shares of the company's stock traded hands, compared to its average volume of 1,059,102. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a 50 day simple moving average of $182.19 and a 200-day simple moving average of $181.17. The company has a market cap of $24.36 billion, a PE ratio of 10.72, a PEG ratio of 1.43 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $2.36 EPS. Dover's quarterly revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Dover's dividend payout ratio is currently 12.55%.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.